The phrase "#TrumpNewTariffs" refers to the significant and broad tariffs enacted by President Donald Trump during his second term, which began in January 2025. The central component of this new trade policy is the Universal Baseline Tariff and related "Reciprocal Tariffs." Key Details of the New Tariffs (Enacted in 2025) Universal Baseline Tariff (10%): Rate: A minimum 10\% tariff (often called the "Global Tariff" or "Reciprocal Tariff") was imposed on nearly all goods imported into the United States from all countries not subject to other sanctions. Legal Basis: The tariffs were imposed by invoking the International Emergency Economic Powers Act (IEEPA), a controversial use of the law that has been challenged in court. Effective Date: The 10% tariff took effect in April 2025. Higher Country-Specific Tariffs: In addition to the 10% baseline, higher "Reciprocal Tariffs" (ranging from 11\% to 50\% or more) were applied to countries with which the U.S. has large trade deficits. China: Imports from China are subject to a significantly higher tariff rate. Mexico & Canada: Tariffs on non-USMCA-compliant goods from Mexico and Canada were also enacted, with a 35% rate on many products. Other Tariff Changes: Elimination of De Minimis Exemption: The rule that exempted small packages (previously valued under $800) from tariffs was suspended, effective in August 2025. New Section 232 Tariffs: Tariffs on steel, aluminum, and copper were raised to 50%, and a 25% tariff was imposed on imported cars from most countries. Economic Impact and Consequences The new tariffs represent one of the largest tax increases in U.S. history and have faced widespread criticism from non-administration economists: Increased Consumer Costs/Inflation: Tariffs are essentially taxes paid by the U.S. importer, which are often passed on to U.S. consumers through higher prices for imported goods (e.g., the tariffs have remained in effect pending appeal to the Supreme Court. #TrumpNewTariffs